# Market Perspectives - May 24, 2018 - U.S. Grains & BioProducts Council

> July corn futures gained 9 cents on dry weather in Brazil threatening its second corn crop, while US planting reached 81% complete, in line with the five-year average. USDA export sales showed 0.85 MMT of net corn sales and 1.47 MMT of shipments, and the national cash corn price reached $3.75 per bushel.

- Date: 2018-05-24 · published 2018-05-24T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/10841-market-perspectives-may-24-2018-u-s-grains-and-bioproducts-council
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Brazilian dryness tightens the export outlook for corn, while steady US planting limits weather risk, leaving cash corn firm on the back of stronger bids.

## Read by commodity

- CORN: bullish ▲
- DDGS: neutral
- SORGHUM: bullish ▲
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-05-23 | [Market Perspectives - May 23, 2019 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/12128-market-perspectives-may-23-2019-u-s-grains-and-bioproducts-council.md) | +3.7% | +7.9% |
| CORN | 2018-07-19 | [Market Perspectives - July 19, 2018 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/6569-market-perspectives-july-19-2018-u-s-grains-and-bioproducts-council.md) | -1.3% | -0.2% |
| CORN | 2019-03-21 | [Market Perspectives - March 21, 2019 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/9641-market-perspectives-march-21-2019-u-s-grains-and-bioproducts-council.md) | -1.2% | -4.1% |
| CORN | 2018-05-17 | [Market Perspectives - May 17, 2018 - Page 7 of 11 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/8711-market-perspectives-may-17-2018-page-7-of-11-u-s-grains-and-bioproducts-council.md) | +1.3% | -4.2% |
| CORN | 2017-06-01 | [Market Perspectives June 1, 2017 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/70520-market-perspectives-june-1-2017-u-s-grains-and-bioproducts-council.md) | +2.1% | -3.7% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-may-24-2018/
- grains.org: https://grains.org/market_perspectives/market-perspectives-may-24-2018/6/
- grains.org: https://grains.org/market_perspectives/market-perspectives-may-24-2018/9/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.